IOTA has reached to a key level. It is basically the first time since mid march we have held the price above 55 EMA on a daily chart, which at the moment acts as a nice/strong support line. In order to have a continuing bullish movement, we have to see if IOTA can get a nice bounce upwards from the 55 EMA (from 0.35). That would confirm the golden cross-over and the fact that it is not a bull trap. If we succeed with this scenario, IOTA should have a bullish movement up to 0.50 where a major resistance lies (the channel confirms it, as well as previous lows from october and august) There we should see some correction. Still it is a potential 35-38% (even 40%) gain in the January period for swing traders, as long as the requirements are met.
Stay safe!
This is not financial advice. Just a fellow trader sharing his thoughts.
Stay safe!
This is not financial advice. Just a fellow trader sharing his thoughts.